Novartis Chairman Joerg Reinhardt and CEO Joe Jimenez were once in competition for the chief executive post. Jimenez won out; Reinhardt left to run Bayer Healthcare. Now, Reinhardt's back--but rather than wrest power away from Jimenez, he plans to give Jimenez more.
Novartis CEO Joe Jimenez says the pharma giant easily has enough cash on hand to keep the dividends flowing to investors while reserving up to $6 billion for new bolt-on buyouts. In an interview with the Swiss newspaper Schweiz am Sonntag, which was picked up by Reuters, Jimenez says that the sweet spot for deals lies in the $2 billion to $4 billion arena--modest for a company of that size.
With the American Society of Hematology meeting in New Orleans, a slew of blood cancer studies are in the spotlight. Three of the releases caught our eye, because they're significant new data on drugs already on the market.
University of Pennsylvania researcher Carl June is back with another impressive round of results for a much larger group of patients in what is fast becoming a race to the finish line with one of the most promising new leukemia therapies in the clinic.
Novartis' in-development multiple myeloma candidate LBH589 hit its primary endpoint of staving off cancer progression in a late-stage study, the company said, stoking hopes the Swiss drugmaker can take first place among a new class of treatments.
Princeton University will not begin to offer Novartis' meningitis B vaccine to Bexsero to students until next week, but health officials are already considering expanding the campaign to another university. An outbreak at the University of California, Santa Barbara, is the cause of the latest concerns.
Unilife is at it again. This time it's Novartis signing a deal with the injectable technology provider, adding to Unilife's impressive list of recent agreements with top pharmaceutical companies Sanofi, MedImmune and Hikma.
Just weeks after selling its blood-transfusion business and announcing a new strategy focusing on pharmaceutical development, Novartis is reportedly opening the books on its animal-health business to potential buyers. Bayer may be the top suiter.
Novartis scientists, in collaboration with an international team of researchers from the University of California, San Diego, and Columbia University, have identified a novel drug target for treating malaria, a scourge of many tropical Third World countries.
Two buyout firms are duking it out for LTS Lohmann, a drug-patch maker partly owned by Novartis, Reuters reports. Now that the dust has settled on first-round bids, which were due last month, Wendel and Nordic Capital are still in the running for a deal worth about $1.6 billion.